Property Auctions London, Property Auctioneers London, London Property Auctions, Property Auctions London

Lot 44 Click here for addendum

Gross Yield 12%
6 Week Completion

Situation
Occupying a busy trading position in the heart of the town centre, close to the Market Square, Keel Row Shopping Centre and the main Bus Station, adjacent to Bargain Buys and with other nearby multiples including Iceland, Boots, Lloyds Bank, Greggs, Argos, William Hill, Subway and many others.
Blyth lies on the main A193 on the north-east coast of England enjoying easy access to the A19 and the A1(M) some 18 miles north-east of Newcastle City Centre.

Property

A terraced property comprising a Deep Ground Floor Shop with internal access to Ancillary Storage at first floor level.

Accommodation

Ground Floor Shop
Gross Frontage 20'10”
Internal Width 19'10”
Shop Depth 53'4”
Built Depth 95'0”
Sales Area Approx. 1,058 sq ft
Storage Area Approx. 683 sq ft
First Floor
Storage/Staff Area Approx. 421 sq ft
2 WCs
Total Area Approx. 2,162 sq ft

VAT is applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease (subject to a schedule of condition) to Easten Trade Ltd t/a Cash Generator for a term of 10 years from 19th July 2012 at a current rent of £12,000 per annum exclusive.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

73 Waterloo Road, Blyth, Northumberland NE24 1BW